Project Total Destruction definition

Project Total Destruction means that the Project (as defined in paragraph 1.1) is damaged or destroyed to the extent that the cost of repair is fifty percent (50%) or more of the then Replacement Cost of the Project.
Sample 1Sample 2Sample 3
Project Total Destruction means damage or destruction to the Project, the repair cost of which damage or destruction is 50% or more of the then Replacement Cost of the Project immediately prior to such damage or destruction.
Sample 1

Examples of Project Total Destruction in a sentence

  • Project Total Destruction 9 8.4 Damage Near End of Term 9 8.5 Abatement of Rent; Tenant's Remedies 9 8.6 Termination-Advance Payments 10 8.7 Waiver 10 8.8 Insurance Limitation 10 9.

  • Building Total Destruction, or (ii) Office Building Project Total Destruction, then Lessor may at Lessor's option either (i) repair such damage or destruction as soon as reasonably possible at Lessor's expense (to the extent the required materials are readily available through usual commercial channels) to its condition existing at the time of the damage, but not Lessee's fixtures.

  • Notwithstanding any other Provision hereof, if a Project Total Destruction occurs (including any destruction required by any authorized public authority), this Lease shall terminate as of such Project Total Destruction, whether or not the damage or destruction is an Insured Loss or was caused by a negligent or willful act of Tenant.

Related to Project Total Destruction

  • Premises Total Destruction means damage or destruction to the Premises, other than Lessee Owned Alterations and Utility Installations and Trade Fixtures, which cannot reasonably be repaired in six (6) months or less from the date of the damage or destruction. Lessor shall notify Lessee in writing within thirty (30) days from the date of the damage or destruction as to whether or not the damage is Partial or Total.

  • Premises Building Total Destruction means if the Building of which the Premises are a part is damaged or destroyed to the extent that the cost to repair is fifty percent (50%) or more of the then Replacement Cost of the Building.

  • Lease Date means the later date upon which this Lease is signed by Landlord and Tenant.

  • Construction Commencement Date means the date set out in the Addendum, if applicable, by which you must commence construction of the Hotel. For the Hotel to be considered under construction, youmust have begun to pour concrete foundations for the Hotel or otherwise satisfied any site-specific criteria for “under construction” set out in the Addendum.

  • Substantial Completion Date means the required date for Substantial Completion of the Project. The Substantial Completion Date can be adjusted only by written Change Order.

  • Completion Date means the date of completion of the Services by the Service Provider as certified by the Procuring Entity

  • Construction Period means the period commencing from the Appointed Date and ending on the date of the Completion Certificate;

  • Construction Completion Date means the date by which the overall development of the Project is completed in accordance with the provisions of this Agreement and when the Construction Completion Certificate is issued by the Independent Engineer as per Article 14.1.

  • Occupancy Date means the date on which occupancy of all Units in a Project is permitted;

  • Guaranteed Substantial Completion Date or “Guaranteed Substantial Completion Dates” has the meaning set forth in Section 5.3B.

  • Utility Installation means carpeting, window and wall coverings, power panels, electrical distribution systems, lighting fixtures, air conditioning, plumbing, and telephone and telecommunication wiring and equipment. At the expiration of the term, Lessor may require the removal of any or all of said alterations, improvements, additions or Utility Installations, and the restoration of the Premises and the Office Building Project to their prior condition, at Lessee's expense. Should Lessor permit Lessee to make its own alterations, improvements, additions or Utility Installations, Lessee shall use only such contractor as has been expressly approved by Lessor, and Lessor may require Lessee to provide Lessor, at Lessee's sole cost and expense, a lien and completion bond in an amount equal to one and one-half times the estimated cost of such improvements, to insure Lessor against any liability for mechanic's and materialmen's liens and to insure completion of the work. Should Lessee make any alterations, improvements, additions or Utility Installations without the prior approval of Lessor, or use a contractor not expressly approved by Lessor, Lessor may, at any time during the term of this Lease, require that Lessee remove any part or all of the same.

  • Substantial Completion means the stage in the progress of the work as determined and certified by the Contracting Officer in writing to the Contractor, on which the work (or a portion designated by the Government) is sufficiently complete and satisfactory. Substantial completion means that the property may be occupied or used for the purpose for which it is intended, and only minor items such as touch-up, adjustments, and minor replacements or installations remain to be completed or corrected which:

  • Leasehold Improvements means all leasehold improvements situated in or on the Leased Real Property and owned by Seller.

  • Rentable Area of the Premises The amount of square footage set forth in Section 1.01(10).

  • Installation Date means the date specified in the Statement of Work by which the Contractor must have the ordered Equipment ready (certified) for use by the State.

  • Area A means the area marked “Area A” outlined in red on the Plan (excluding that part shaded grey on the Plan);

  • Premises Building Partial Damage means if the Building of which the Premises are a part is damaged or destroyed to the extent that the cost to repair is less than fifty percent (50%) of the then Replacement Cost of the building.

  • The Completion Date means the date of completion of the Works as certified by the Employer’s Representative.

  • Lease Termination Date means the last day of the Lease Term.

  • Construction-in-Process means cash expenditures for land and improvements (including indirect costs internally allocated and development costs) determined in accordance with GAAP for all Properties that are under development or will commence development within twelve months from any date of determination.

  • Commencement Date means the date of this Agreement;

  • the commencement date means the date on which the Contract shall take effect, as notified by the Authority to the Contractor in a letter awarding the Contract.